Building Details

Year built 1905

Flooring type Linoleum, Carpet

Building materials Wood Siding

Roof type Shingle

Listing Agency: BHG RE Reliance Partners · Better Homes and Gardens Real Estate m***@bhghome.com Show Phone

Listed By: June McDaniels · License #01307858 Show Phone

Added: Nov 17, 2025 Changed: Oct 8 Last Checked: Oct 17 at 3:06AM

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MLS# 41117661

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Investment Insights

Based on property information with market context.

This 2,534-square-foot apartment property contains six residences: five one-bedroom units and one studio. The 1905 building features wood siding, shingle roofing, linoleum and carpet flooring, natural-gas heating, and a gas water heater. Public water and sewer serve the property, with natural gas available.

Situated on a 0.0459-acre lot at 2701 Grant Street in Berkeley, the property is near shopping and Berkeley eateries. The property may be subject to rent control.

Key Highlights

• Six‑unit configuration with five one‑bedroom residences and one studio
• 2,534 square feet on a 0.0459‑acre lot
• Constructed in 1905 with wood siding and shingle roofing

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$50,366

Cap Rate

4.58%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,007,320 $1.0M

Cap Rate 7%

$719,514 $719.5K

Cap Rate 9%

$559,622 $559.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,534 SF

Gross rent

$96.4K $38.04/SF

− Vacancy

−$4.8K −$1.90/SF

EGI

$91.6K $36.14/SF

− OpEx

−$41.2K −$16.26/SF

NOI

$50.4K $19.88/SF

Area

Berkeley, CA

Vacancy

5.00%

Lease Rate

$38.04 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,007,320

Cap Rate 7%

$719,514

Cap Rate 9%

$559,622

Alternative Uses

Best Use

Apartment 5plus

$719.5K

$629.6K – $839.4K (±1% cap)

NOI $50,366 @ 7.0% cap · market cap 4.58%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$980.0K

$857.5K – $1.14M (±1% cap)

NOI $68,600 @ 7.0% cap · market cap 6.24%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Cosmetic Store Pet Grooming Service (Bike/Boat/Book/etc) Store Tanning Salon Florist Clothing & Fashion Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

6

Residential units

Location Intelligence

Trade Area within ½ mile

2,145

Businesses Nearby

Explore this area Business Placement

Demographics for 94703, CA

20,805

Population

9,654

Households

2.2

Avg Household Size

37

Median Age

71%

College-Educated

95%

High-School Grad

1.3 sq mi

ZIP Area

16,004

Density / Sq Mi

$108,922

Median Household Income

$66,261

Median Earnings

$2,257

Median Rent

$1,273,000

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Multifamily property with a mix of one-bedroom and studio residences in Berkeley.

Where is this apartment building located?

The property is located at 2701 Grant Street Berkeley, CA.

What is the asking price?

The asking price for this property is $1,099,000.

What are key features of this property?

This property features: Six‑unit configuration with five one‑bedroom residences and one studio; 2,534 square feet on a 0.0459‑acre lot; Constructed in 1905 with wood siding and shingle roofing